As the woes continue in Zimbabwe, the central bank’s governor in Zimbabwe, Gideon Gono said today, “Statistics provided by the CSO (central statistical office) indicate that it is now at 2.2 (million percent).” This referring to the rate of inflation in the country. This is clearly the highest rate of inflation in the world. And this figure released of 2.2m% can not be totally accurate with many suggesting that the rate of inflation is actually much higher than this. The last official announcement about the rate of inflation was in February this year when it was said that inflation was 165 000%.
It is still anyone guess how they can actually still be able to calculate the rate of inflation in Zimbabwe with the way things our going in their economy. An inflation rate of 2.2m% really does not make sense to anyone who is not in Zimbabwe and maybe even for those in the country. If someone tells you that a cold drink is 20 billion dollars, one can not comprehend what the actual value is unless you convert it back into rands or US dollars.
It would not surprise me if the actaull rate is 30 million%. i was in Zimbabwe last week and it is sad whs happening there.
They shouldnt waste their time calculating it
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[…] not get any worse in Zimbabwe, a new Z$100bn note is set to be released on Monday (21 July). With inflation already at 2.2m% in the country, adding a higher denomination note is just going to push that rate of inflation even […]
can someone tell how is this possible….how can inflation rate go so high……so how are people surviving overthere….
The rate of inflation in Zimbabwe is like the number of stars in the sky. one cannot count the rate of inflation in Zimbabwe.
The inflation is directly related to the policies laid by the local governing authority, hence if the policies are not reliable how can one expect the inflation rate to be low
INFLATION IS A PERENIAL PROBLEM IN ZIMBABWE. WHY NOT HUMAN RIGHTS PROTECT THE INTERESTS OF THE PEOPLE OF ZIMBABWE?
IS IT ONLY IN CASE PEOPLE ARE KILLED THEY COME IN PICTURE? NOW ALL OF US LIVING WHEREEVER WE ARE, SHOULD TRY TO VOICE OUR CONCERN FOR THIS PERENIAL PROBLEM OF INFLATION IN THAT COUNTRY.